news.yahoo.com/news?tmpl=story&u=/nm/20040901/bs_nm/markets_stocks_dc_48Stocks Wobble on DC Sickness Report
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NEW YORK (Reuters) - U.S. stocks wobbled lower on Wednesday as reports that several people had been sickened in an office in Washington raised terrorism fears, upsetting the market, and oil prices jumped.
A building was evacuated and one juvenile was in custody after the release of an "irritating chemical" but investigators are sure terrorism was not involved, a police spokesman said. Earlier, some 50-80 people had reported eye irritation, possibly to due pepper spray.
"There were rumors about noxious fumes in an office building and that made its way through the market pretty quickly. Once it was clear that it was a not a terrorist attack, we recovered pretty quickly," said Brian Williamson, vice president, equity trading, The Boston Co. Asset Management.
Oil was back on investors' radar as NYMEX crude oil futures rose more than 4 percent to approach $44 a barrel after U.S. government data showed an unexpectedly large drop in crude inventories last week.
High oil prices generally weigh on stock prices because of their impact on companies' profit margins and consumers' pocketbooks.
The Dow Jones industrial average (^DJI - news) was down 8.40 points, or 0.08 percent, at 10,165.52, after rising in earlier trading. The Standard & Poor's 500 Index (^SPX - news) was up 1.03 points, or 0.09 percent, at 1,105.27, lower than earlier in the session. The technology-laced Nasdaq Composite Index (^IXIC - news) was up 10.01 points, or 0.54 percent, at 1,848.11.
(Additional reporting by Anna Driver)
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? breaking wind maybe????
-LS